Subjects - Business

This is the age of globalization. The vast earth is no longer unfathomed. We can reach every corner of the earth within a few hours due to excellent modern communication. A person sitting in India can talk to another person sitting in Canada. The revol

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

ution in telecommunication has brought the people of different parts of the world closer. Taking the advantage of this revolution, the large multinational companies thought to make profit in their business in a new way. They started to outsource a part

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

of their business in other parts of the world where the manpower is efficient and cheaper. The developing countries like India, China, Mexico, Philippines were the obvious choice as there is no dearth of talent and cheap manpower here.

China, Singapor

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

, Philippines, Taiwan took the lead in outsourcing of manufacturing the hardware parts while India carved a niche in the software outsourcing process. China remained behind in the software outsourcing field because it does not have command over English

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

English is not taught in the schools of China as it as taught in India. The British had ruled India a century ago, so the influence of English language remained throughout India. It is taught as a second language in every Indian state. There are many

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

nglish medium schools in India where the medium of instruction is English. Students coming out these schools can talk in English smartly. Almost all big multinational companies are located in the USA, England and other countries of Europe and America w

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

ere the medium of instruction is English. Since there are many English speaking people in India, many large multinational companies have outsourced a part of their business to India.

The types of processes outsourced are Customer Support, Technical Su

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

pport and Backend processes. India has begun to be known as the center of Back office operations for the entire world. Many large multinational Banks have decided to shift their back office work to India. HSBC, Aviva Life Insurance, ABN Amro Bank have

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

nnounced that they would recruit thousands of Indians in their Call Centers, which have been set up in cities like Bangalore, Kolkata and Delhi. The Call Center business has set a new era for global business. While the big companies can concentrate m

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

re on their business by drastically cutting their maintenance costs, the educated and well versed youth of developing countries like India, Mexico can earn some quick money and become a part of international business. There are about 4 lacks people wor

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

ing in different call centers in India.

This is the age of liberalization. Almost all countries of the world are now following the path of liberal economy. They have come to realize that it is the only way of development. The mobile phones manufacture

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

in China are sold the world over similarly the software developed in India is utilized in the entire world. Thus a sense of mutual benefit has developed in the companies across the world. The governments of many countries have allowed the multinationa

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

companies to conduct their business in their own way in different parts of the world so that the people can get benefit in one way or the other way. India opened its gate for the multinational companies in the nineties, since then Indian economy has

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

been growing by leaps and bound. The big companies have set up their business centers here and as a result the business process outsourcing has generated millions of dollar for India. The multinational companies have got good service and have been ab

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

le to cut down their cost, thus gaining the other way.

Reasons and advantages of outsourcing

Cost Benefits – In many call centers in the USA and Europe labor cost are the main operating cost, but in India it is just a fraction. In the U.S. a call cen

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

er employee can expect $20,000 per year for answering customer queries over the phone but in India the cost can come down to $2,000 per year, which is 10% of the U.S. Cost. The companies have saved millions of dollar from this cheap workf

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

rce.

Skilled manpower- Most of the call centers in western countries recruit high school graduates for their work but in India they can easily get graduate students as each year millions of students graduate who can speak English very well but can not

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

find high paying jobs. As for India the call center jobs are well paid, the employees take it as their full time job, whereas call center jobs are still considered as part time jobs in the west.

Taking all these facts into consideration, the companies

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

have got phenomenal success in all respects while outsourcing their processes to India. This has opened the gate for more and more processes coming to India. Insurance, Banking, HR, Mortgage, Finance and Accounting are some of the most popular off shor

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

ng processes. By 2008 HR will be $40 billion market, while Finance & Accounting will be $20 billion market.

Some of the top companies of the world who outsource their business are:

Convergys, Dell, GE, American Express, Amazon, Sprint and many others

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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